The
Wall StreetWall Street Journal is an American business-focused,
English-language international daily newspaper based in New York City.
The Journal, along with its Asian and European editions, is published
six days a week by Dow Jones & Company, a division of News Corp.
The newspaper is published in the broadsheet format and online.
The
Wall StreetWall Street Journal is the largest newspaper in the United States
by circulation. According to News Corp, in their June 2017 10-K Filing
with the SEC, the Journal had a circulation of about
2.277 million copies (including nearly 1,270,000 digital
subscriptions) as of June 2017[update],[2] compared with USA
Today's 1.7 million.
The newspaper has won 40 Pulitzer Prizes through 2017[3] and derives
its name from
Wall StreetWall Street in the heart of the Financial District of
Lower Manhattan. The Journal has been printed continuously since its
inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles
Bergstresser.
The Journal also publishes the luxury news and lifestyle magazine WSJ.
The Journal launched an online version in 1996, which has been
accessible only to subscribers since it launched.[4]

The first products of Dow Jones & Company, the publisher of the
Journal, were brief news bulletins, nick-named "flimsies",
hand-delivered throughout the day to traders at the stock exchange in
the early 1880s. They were later aggregated in a printed daily summary
called the Customers' Afternoon Letter. Reporters Charles Dow, Edward
Jones, and
Charles Bergstresser converted this into The Wall Street
Journal, which was published for the first time on July 8, 1889, and
began delivery of the Dow Jones News Service via telegraph.[5] In
1896, The "Dow Jones Industrial Average" was officially launched. It
was the first of several indices of stock and bond prices on the New
York Stock Exchange. In 1899, the Journal's Review & Outlook
column, which still runs today, appeared for the first time, initially
written by Charles Dow.
Journalist
Clarence Barron purchased control of the company for
US$130,000 in 1902; circulation was then around 7,000 but climbed to
50,000 by the end of the 1920s. Barron and his predecessors were
credited with creating an atmosphere of fearless, independent
financial reporting—a novelty in the early days of business
journalism. In 1921, Barron's, America's premier financial weekly, was
founded.[6] Barron died in 1928, a year before Black Tuesday, the
stock market crash that greatly affected the
Great DepressionGreat Depression in the
United States. Barron's descendants, the Bancroft family, would
continue to control the company until 2007.[6]
The Journal took its modern shape and prominence in the 1940s, a time
of industrial expansion for the United States and its financial
institutions in New York.
Bernard Kilgore was named managing editor of
the paper in 1941, and company CEO in 1945, eventually compiling a
25-year career as the head of the Journal. Kilgore was the architect
of the paper's iconic front-page design, with its "What's News"
digest, and its national distribution strategy, which brought the
paper's circulation from 33,000 in 1941 to 1.1 million at the
time of Kilgore's death in 1967. Under Kilgore, in 1947, that the
paper won its first Pulitzer Prize, for William Henry Grimes's
editorials.[6]
In 1967, Dow Jones Newswires began a major expansion outside of the
United States that ultimately put journalists in every major financial
center in Europe, Asia, Latin America, Australia, and Africa. In 1970,
Dow Jones bought the Ottaway newspaper chain, which at the time
comprised nine dailies and three Sunday newspapers. Later, the name
was changed to "Dow Jones Local Media Group".[7]
1971 to 1997 brought about a series of launches, acquisitions, and
joint ventures, including "Factiva", The
Wall StreetWall Street Journal Asia, The
Wall StreetWall Street Journal Europe, the WSJ.com website, Dow Jones Indexes,
MarketWatch, and "WSJ Weekend Edition". In 2007
News Corp.News Corp. acquired
Dow Jones. WSJ., a luxury lifestyle magazine, was launched in 2008.[8]
Internet expansion[edit]
Further information: OpinionJournal.com
A complement to the print newspaper, The
Wall StreetWall Street Journal Online,
was launched in 1996 and has allowed access only by subscription from
the beginning.[9] In 2003, Dow Jones began to integrate reporting of
the Journal's print and online subscribers together in Audit Bureau of
Circulations statements.[10] In 2007, it was commonly believed to be
the largest paid-subscription news site on the Web, with 980,000 paid
subscribers.[6] Since then, online subscribership has fallen, due in
part to rising subscription costs, and was reported at 400,000 in
March 2010.[11] In May 2008, an annual subscription to the online
edition of The
Wall StreetWall Street Journal cost $119 for those who do not have
subscriptions to the print edition. By June 2013, the monthly cost for
a subscription to the online edition was $22.99, or $275.88 annually,
excluding introductory offers.[12]

On November 30, 2004,
Oasys Mobile and The
Wall StreetWall Street Journal
released an app that would allow users to access content from the Wall
Street Journal Online via their mobile phone.[13]
Many of The
Wall StreetWall Street Journal news stories are available through
free online newspapers that subscribe to the Dow Jones
syndicate.[citation needed] Pulitzer Prize–winning stories from 1995
are available free on the Pulitzer[14] web site.
In September 2005, the Journal launched a weekend edition, delivered
to all subscribers, which marked a return to Saturday publication
after a lapse of some 50 years. The move was designed in part to
attract more consumer advertising.[6]
In 2005, the Journal reported a readership profile of about 60 percent
top management, an average income of $191,000, an average household
net worth of $2.1 million, and an average age of 55.[15]
In 2007, the Journal launched a worldwide expansion of its website to
include major foreign-language editions. The paper had also shown an
interest in buying the rival Financial Times.[16]
Design changes[edit]
The nameplate is unique in having a period at the end.[17]
On September 5, 2006, the Journal included advertising on its front
page for the first time. This followed the introduction of front-page
advertising on the European and Asian editions in late 2005.[18]
After presenting nearly identical front-page layouts for half a
century—always six columns, with the day's top stories in the first
and sixth columns, "What's News" digest in the second and third, the
"A-hed" feature story in the fourth (with 'hed' being jargon for
headline) and themed weekly reports in the fifth column[19] – the
paper in 2007 decreased its broadsheet width from 15 to 12 inches
while keeping the length at 22​3⁄4 inches, to save newsprint
costs. News design consultant Mario Garcia collaborated on the
changes. Dow Jones said it would save US$18 million a year in
newsprint costs across all The
Wall StreetWall Street Journal papers.[20] This
move eliminated one column of print, pushing the "A-hed" out of its
traditional location (though the paper now usually includes a quirky
feature story on the right side of the front page, sandwiched among
the lead stories).
The paper still[when?] uses ink dot drawings called hedcuts,
introduced in 1979 and originally created by Kevin Sprouls,[21] in
addition to photographs, a method of illustration considered a
consistent visual signature of the paper. The Journal still heavily
employs the use of caricatures, notably those of Ken Fallin, such as
when
Peggy NoonanPeggy Noonan memorialized then-recently deceased newsman Tim
Russert.[22][23] The use of color photographs and graphics has become
increasingly common in recent years with the addition of more
"lifestyle" sections.
The daily was awarded by the
Society for News Design World's Best
Designed Newspaper award for 1994 and 1997.[24]
News CorporationNews Corporation and News Corp[edit]
On May 2, 2007,
News CorporationNews Corporation made an unsolicited takeover bid for
Dow Jones, offering US$60 a share for stock that had been selling for
US$33 a share. The Bancroft family, which controlled more than 60% of
the voting stock, at first rejected the offer, but later reconsidered
its position.[25]
Three months later, on August 1, 2007,
News CorporationNews Corporation and Dow Jones
entered into a definitive merger agreement.[26] The US$5 billion
sale added The
Wall StreetWall Street Journal to Rupert Murdoch's news empire,
which already included
Fox NewsFox News Channel, financial network unit and
London's The Times, and locally within New York, the New York Post,
along with Fox flagship station
WNYWWNYW (Channel 5) and MyNetworkTV
flagship WWOR (Channel 9).[27]
On December 13, 2007, shareholders representing more than 60 percent
of Dow Jones's voting stock approved the company's acquisition by News
Corporation.[28]
In an editorial page column, publisher L. Gordon Crovitz said the
Bancrofts and
News CorporationNews Corporation had agreed that the Journal's news and
opinion sections would preserve their editorial independence from
their new corporate parent:[29]
A special committee was established to oversee the paper's editorial
integrity. When the managing editor
Marcus BrauchliMarcus Brauchli resigned on April
22, 2008, the committee said that
News CorporationNews Corporation had violated its
agreement by not notifying the committee earlier. However, Brauchli
said he believed that new owners should appoint their own editor.[30]
A 2007 Journal article quoted charges that Murdoch had made and broken
similar promises in the past. One large shareholder commented that
Murdoch has long "expressed his personal, political and business
biases through his newspapers and television stations". Former Times
assistant editor Fred Emery remembers an incident when "Mr. Murdoch
called him into his office in March 1982 and said he was considering
firing Times editor Harold Evans. Mr. Emery says he reminded Mr.
Murdoch of his promise that editors couldn't be fired without the
independent directors' approval. 'God, you don't take all that
seriously, do you?' Mr. Murdoch answered, according to Mr. Emery."
Murdoch eventually forced out Evans.[31]
In 2011,
The GuardianThe Guardian found evidence that the Journal had artificially
inflated its European sales numbers, by paying Executive Learning
Partnership for purchasing 16% of European sales. These inflated sales
numbers then enabled the Journal to charge similarly inflated
advertising rates, as the advertisers would think that they reached
more readers than they actually did. In addition, the Journal agreed
to run "articles" featuring Executive Learning Partnership, presented
as news, but effectively advertising.[32] The case came to light after
a Belgian
Wall StreetWall Street Journal employee, Gert Van Mol, informed Dow
Jones CEO
Les Hinton about the questionable practice.[33] As a result,
the then
Wall StreetWall Street Journal Europe CEO and Publisher Andrew Langhoff
was fired after it was found out he personally pressured journalists
into covering one of the newspaper's business partners involved in the
issue.[34][35] Since September 2011 all the online articles that
resulted from the ethical wrongdoing carry a
Wall StreetWall Street Journal
disclaimer informing the readers about the circumstances in which they
were created.
The Journal, along with its parent Dow Jones & Company, was among
the businesses
News CorporationNews Corporation spun off in 2013 as the new News Corp.
In November 2016, in an effort to cut costs, the Journal's
editor-in-chief, Gerard Baker, announced that layoffs and
consolidation to its sections would take place. In the memo, the new
format for the newspaper will have a "Business & Finance" section
that will combine its current "Business & Tech" and "Money &
Investing" sections. It will also include a new "Life & Arts"
section that will combine its current "Personal Journal" and "Arena"
sections. In addition, the current "Greater New York" coverage will be
reduced and will move into the main section of paper.[36]
Features[edit]
Since 1980, the Journal has been published in multiple sections. At
one time, The Journal's page count averaged as much as 96 pages an
issue,[citation needed] but with the industry-wide decline in
advertising, the Journal in 2009–10 more typically published about
50 to 60 pages per issue. Regularly scheduled sections are:

Section One – every day; corporate news, as well as political and
economic reporting and the opinion pages
Marketplace – Monday through Friday; coverage of health, technology,
media, and marketing industries (the second section was launched June
23, 1980)
Money and Investing – every day; covers and analyzes international
financial markets (the third section was launched October 3, 1988)
Personal Journal – published Tuesday through Thursday; covers
personal investments, careers and cultural pursuits (the section was
introduced April 9, 2002)
Off Duty – published Saturdays in WSJ Weekend; focuses on fashion,
food, design, travel and gear/tech. The section was launched September
25, 2010.
Review – published Saturdays in WSJ Weekend; focuses on essays,
commentary, reviews and ideas. The section was launched September 25,
2010.
Mansion – published Fridays; focuses on high-end real estate. The
section was launched October 5, 2012.
WSJ Magazine – Launched in 2008 as a quarterly, this luxury magazine
supplement distributed within the U.S., European and Asian editions of
The
Wall StreetWall Street Journal grew to 12 issues per year in 2014.

In addition, several columnists contribute regular features to the
Journal opinion page and OpinionJournal.com:

In addition to these regular opinion pieces, on Fridays the Journal
publishes a religion-themed op-ed, titled "Houses of Worship", written
by a different author each week. Authors range from the Dali Lama to
cardinals.
WSJ.[edit]
Main article: WSJ.
WSJ.WSJ. is The
Wall StreetWall Street Journal's luxury lifestyle magazine. Its
coverage spans art, fashion, entertainment, design, food,
architecture, travel and more. Kristina O'Neill is Editor in Chief and
Anthony Cenname is Publisher.
Launched as a quarterly in 2008, the magazine grew to 12 issues a year
for 2014.[38] The magazine is distributed within the U.S. Weekend
Edition of The
Wall StreetWall Street Journal newspaper (average paid print
circulation is +2.2 million*), the European and Asian editions, and is
available on WSJ.com. Each issue is also available throughout the
month in The
Wall StreetWall Street Journal's iPad app.
Penélope Cruz, Carmelo Anthony, Woody Allen, Scarlett Johansson,
Emilia Clarke, Daft Punk, and
Gisele BündchenGisele Bündchen have all been featured
on the cover.
In 2012, the magazine launched its signature platform, The Innovator
Awards. An extension of the November Innovators issue, the awards
ceremony, held in
New York CityNew York City at Museum of Modern Art, honors
visionaries across the fields of design, fashion, architecture,
humanitarianism, art and technology. The 2013 winners were: Alice
Waters (Humanitarianism);
Daft PunkDaft Punk (Entertainment); David Adjaye
(Architecture); Do Ho Su (Art); Nick D'Aloisio (Technology); Pat
McGrath (Fashion); Thomas Woltz (Design).
In 2013,
AdweekAdweek awarded WSJ.[39] "Hottest Lifestyle Magazine of the
Year" for its annual Hot List.

U.S. Circulation: Each issue of
WSJ.WSJ. is inserted into the weekend
edition of The
Wall StreetWall Street Journal, whose average paid circulation for
the three months ending September 30, 2013 was 2,261,772 as reported
to the Alliance for Audited Media (AAM).

Operations[edit]
As of 2012[update], The
Wall StreetWall Street Journal had a global news staff of
around 2,000 journalists in 85 news bureaus across 51
countries.[40][41] As of 2012[update], it had 26 printing plants.[40]
Recent milestones[edit]

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WSJ Live became available on mobile devices, including iPad, in
September 2011.[42]
WSJ Weekend, the weekend newspaper, expanded September 2010, with two
new sections: "Off Duty" and "Review".
"Greater New York", a stand-alone, full color section dedicated to the
New York metro area, launched April 2010.[43][44]
The
Wall StreetWall Street Journal's San Francisco Bay Area Edition, which
focuses on local news and events, launched on November 5, 2009,
appearing locally each Thursday in the print Journal and every day on
online at WSJ.com/SF.
WSJ Weekend, formerly called Saturday's Weekend Edition: September
2005.
Launch of Today's Journal, which included both the addition of
Personal Journal and color capacity to the Journal: April 2002.
Friday Journal, formerly called First Weekend Journal: March 20, 1998.
WSJ.com launched in April 1996.[45]
First three-section Journal: October 1988.
First two-section Journal: June 1980.

Editorial page and political stance[edit]
Further information: The
Wall StreetWall Street Journal Editorial Board
The Journal won its first two Pulitzer Prizes for editorial writing in
1947 and 1953. Subsequent Pulitzer Prizes have been awarded for
editorial writing to
Robert L. Bartley in 1980 and
Joseph Rago in
2011; for criticism to
Manuela Hoelterhoff in 1983 and Joe Morgenstern
in 2005; and for commentary to
Vermont Royster in 1984,
Paul GigotPaul Gigot in
2000,
Dorothy Rabinowitz in 2001,
Bret StephensBret Stephens in 2013, and Peggy
Noonan in 2017.
Two summaries published in 1995 by the progressive blog Fairness and
Accuracy in Reporting, and in 1996 by the Columbia Journalism
Review[46] criticized the Journal's editorial page for inaccuracy
during the 1980s and 1990s.
The Journal describes the history of its editorials:

They are united by the mantra "free markets and free people", the
principles, if you will, marked in the watershed year of 1776 by
Thomas Jefferson's Declaration of Independence and Adam Smith's Wealth
of Nations. So over the past century and into the next, the Journal
stands for free trade and sound money; against confiscatory taxation
and the ukases of kings and other collectivists; and for individual
autonomy against dictators, bullies and even the tempers of momentary
majorities. If these principles sound unexceptionable in theory,
applying them to current issues is often unfashionable and
controversial.[citation needed]

Its historical position was much the same. As former editor William H.
Grimes wrote in 1951:

On our editorial page we make no pretense of walking down the middle
of the road. Our comments and interpretations are made from a definite
point of view. We believe in the individual, in his wisdom and his
decency. We oppose all infringements on individual rights, whether
they stem from attempts at private monopoly, labor union monopoly or
from an overgrowing government. People will say we are conservative or
even reactionary. We are not much interested in labels but if we were
to choose one, we would say we are radical. Just as radical as the
Christian doctrine.[47]

Each Thanksgiving the editorial page prints two famous articles that
have appeared there since 1961. The first is titled The Desolate
Wilderness, and describes what the Pilgrims saw when they arrived at
the Plymouth Colony. The second is titled And the Fair Land, and
describes the bounty of America. It was written by a former editor,
Vermont C. Royster, whose Christmas article In Hoc Anno Domini has
appeared every December 25 since 1949.[citation needed]
Economic views[edit]
During the Reagan administration, the newspaper's editorial page was
particularly influential as the leading voice for supply-side
economics. Under the editorship of Robert Bartley, it expounded at
length on economic concepts such as the Laffer curve, and how a
decrease in certain marginal tax rates and the capital gains tax could
allegedly increase overall tax revenue by generating more economic
activity.
In the economic argument of exchange rate regimes (one of the most
divisive issues among economists), the Journal has a tendency to
support fixed exchange rates over floating exchange rates. For
example, the Journal was a major supporter of the Chinese yuan's peg
to the dollar, and strongly disagreed with American politicians who
criticized the Chinese government about the peg. It opposed China's
move to let the yuan gradually float, arguing that the fixed rate
benefited both the United States and China.
The Journal's views compare with those of the British publication The
Economist, with its emphasis on free markets[citation needed].
However, the Journal demonstrates important distinctions from European
business newspapers, most particularly in regard to the relative
significance of, and causes of, the American budget deficit. (The
Journal generally points to the lack of foreign growth, while business
journals in Europe and Asia blame the low savings rate and concordant
high borrowing rate in the United States).
Political stance[edit]

Mark Rutte, prime minister of the Netherlands, being interviewed by
the Journal

The Journal's editorial pages and columns, run separately from the
news pages, are highly influential in American conservative circles.
As editors of the editorial page,
Vermont C. Royster (served
1958–1971) and
Robert L. Bartley (served 1972–2000) were
especially influential in providing a conservative interpretation of
the news on a daily basis.[48] Some of the Journal's former reporters
claim that the paper has adopted a more conservative tone since Rupert
Murdoch's purchase.[49]
The editorial board has long argued for a pro-business immigration
policy. In a July 3, 1984, editorial, the board wrote: "If Washington
still wants to 'do something' about immigration, we propose a
five-word constitutional amendment: There shall be open borders." This
stand on immigration reform places the Journal in contrast to most
conservative activists, politicians, and media publications for
example
National ReviewNational Review and The Washington Times, who favor heightened
restrictions on immigration.[50]
The Journal's editorial page has been seen as critical of many aspects
of Barack Obama's presidency. In particular, it has been a prominent
critic of the Affordable Care Act legislation passed in 2010, and has
featured many opinion columns attacking various aspects of the
bill.[51] The Journal's editorial page has also criticized the Obama
administration's energy policies and foreign policy.[52][53][54]
The editorial board of The
Wall StreetWall Street Journal tends to reject widely
held views on climate change—namely that it poses a major threat to
human existence, is largely caused by fossil fuel emissions, and can
be prevented through public policy. The Journal is regarded as a forum
for climate change skeptics,[55][56] publishing articles by scientists
skeptical of the consensus position on climate change in its op-ed
section, including several essays by
Richard Lindzen of
MIT.[57][58][59] Similarly, the Journal has been accused of refusing
to publish opinions of scientists which present the mainstream view on
climate change.[60] According to a 2016 analysis, 14% of the guest
editorials presented the results of "mainstream climate science",
while the majority did not. Also, none of 201 editorials published in
the WSJ since 1997 concede that the burning of fossil fuels was
causing climate change.[61] A 2015 study found The
Wall StreetWall Street Journal
was the newspaper that was least likely to present negative effects of
global warming among several newspapers. It was also the most likely
to present negative economic framing when discussing climate change
mitigation policies,[62] tending to taking the stance that the cost of
such policies generally outweighs their benefit.
On October 25, 2017, the editorial board called for
SpecialSpecial Counsel
Robert MuellerRobert Mueller to resign from the investigation into Russian
interference in the 2016 United States elections and accused Hillary
Clinton's 2016 presidential campaign of colluding with Russia.[63]
Bias in news pages[edit]
The Journal's editors stress the independence and impartiality of
their reporters.[29]
In a 2004 study, Tim Groseclose and Jeff Milyo argue the Journal's
news pages have a pro-liberal bias because they more often quote
liberal think tanks. They calculated the ideological attitude of news
reports in 20 media outlets by counting the frequency they cited
particular think tanks and comparing that to the frequency that
legislators cited the same think tanks. They found that the news
reporting of The Journal was the most liberal (more liberal than NPR
or The New York Times). The study did not factor in editorials.[64]
Mark Liberman criticized the model used to calculate bias in the study
and argued that the model unequally affected liberals and
conservatives and that "..the model starts with a very peculiar
assumption about the relationship between political opinion and the
choice of authorities to cite." [The authors assume that] "think tank
ideology [...] only matters to liberals."[65]
The company's planned and eventual acquisition by
News CorpNews Corp in 2007
led to significant media criticism and discussion[66] about whether
the news pages would exhibit a rightward slant under Rupert Murdoch.
An August 1 editorial responded to the questions by asserting that
Murdoch intended to "maintain the values and integrity of the
Journal."[67]
Notable stories and Pulitzer Prizes[edit]
The Journal has won more than 30 Pulitzer Prizes in its history. Staff
journalists who led some of the newspaper's best-known coverage teams
have later published books that summarized and extended their
reporting.
1987:
RJR NabiscoRJR Nabisco buyout[edit]
In 1987, a bidding war ensued between several financial firms for
tobacco and food giant RJR Nabisco. Bryan Burrough and John Helyar
documented the events in more than two dozen Journal articles.
Burrough and Helyar later used these articles as the basis of a
bestselling book, Barbarians at the Gate: The Fall of RJR Nabisco,
which was turned into a film for HBO.[68]
1988: Insider trading[edit]
In the 1980s, then Journal reporter
James B. Stewart brought national
attention to the illegal practice of insider trading. He was awarded
the
Pulitzer PrizePulitzer Prize in explanatory journalism in 1988, which he shared
with Daniel Hertzberg,[69] who went on to serve as the paper's senior
deputy managing editor before resigning in 2009. Stewart expanded on
this theme in his book, Den of Thieves.[citation needed]
1997: AIDS treatment[edit]
David Sanford, a Page One features editor who was infected with HIV in
1982 in a bathhouse, wrote a front-page personal account of how, with
the assistance of improved treatments for HIV, he went from planning
his death to planning his retirement.[70] He and six other reporters
wrote about the new treatments, political and economic issues, and won
the 1997
Pulitzer PrizePulitzer Prize for National Reporting about AIDS.[71]
2000: Enron[edit]
Jonathan Weil, a reporter at the Dallas bureau of The Wall Street
Journal, is credited with first breaking the story of financial abuses
at
EnronEnron in September 2000.[72] Rebecca Smith and John R. Emshwiller
reported on the story regularly,[73] and wrote a book, 24 Days.
2001: 9/11[edit]
The Journal claims to have sent the first news report, on the Dow
Jones wire, of a plane crashing into the World Trade Center on
September 11, 2001.[74] Its headquarters, at One World Financial
Center, was severely damaged by the collapse of the World Trade Center
just across the street.[75] Top editors worried that they might miss
publishing the first issue for the first time in the paper's 112-year
history. They relocated to a makeshift office at an editor's home,
while sending most of the staff to Dow Jones's South Brunswick, N.J.,
corporate campus, where the paper had established emergency editorial
facilities soon after the 1993 World Trade Center bombing. The paper
was on the stands the next day, albeit in scaled-down form. Perhaps
the most compelling story in that day's edition was a first-hand
account of the Twin Towers' collapse written by then-Foreign Editor
(and current Washington bureau chief) John Bussey,[75] who holed up in
a ninth-floor Journal office, literally in the shadow of the towers,
from where he phoned in live reports to
CNBCCNBC as the towers burned. He
narrowly escaped serious injury when the first tower collapsed,
shattering all the windows in the Journal's offices and filling them
with dust and debris. The Journal won a 2002
Pulitzer PrizePulitzer Prize in
Breaking News Reporting for that day's stories.[76]
The Journal subsequently conducted a worldwide investigation of the
causes and significance of 9/11, using contacts it had developed while
covering business in the Arab world. In Kabul, Afghanistan, a reporter
from The
Wall StreetWall Street Journal bought a pair of looted computers that Al
Qaeda leaders had used to plan assassinations, chemical and biological
attacks, and mundane daily activities. The encrypted files were
decrypted and translated.[77] It was during this coverage that
terrorists kidnapped and killed Journal reporter Daniel Pearl.
2007: Stock option scandal[edit]
In 2007, the paper won the
Pulitzer PrizePulitzer Prize for Public Service, with its
iconic Gold Medal,[78] for exposing companies that illegally backdate
stock options they awarded executives to increase their value.
2008:
Bear StearnsBear Stearns fall[edit]
Kate Kelly wrote a three-part series that detailed events that led to
the collapse of Bear Stearns.[citation needed]
2010:
McDonald'sMcDonald's health care[edit]
A report[79] published on September 30, 2010, detailing allegations
McDonald'sMcDonald's had plans to drop health coverage for hourly employees drew
criticism from
McDonald'sMcDonald's as well as the Obama administration. The
Wall StreetWall Street Journal reported the plan to drop coverage stemmed from
new health care requirements under the Patient Protection and
Affordable Care Act.
McDonald'sMcDonald's called the report "speculative and
misleading", stating they had no plans to drop coverage.[80] The Wall
Street Journal report and subsequent rebuttal received coverage from
several other media outlets.[81][82][83]
2015: Malaysia Prime Minister
Najib RazakNajib Razak and 1MDB[edit]
In 2015, a report[84] published by the Journal alleged that up to
US$700 million was wired from 1MDB, a Malaysian state investment
company, to the personal accounts of Malaysia Prime Minister Najib
Razak in AmBank, the fifth largest lender in Malaysia. Razak responded
by threatening to sue the New York-based newspaper.
The report prompted some governmental agencies in Malaysia to conduct
an investigation into the allegation.
2015–present:
TheranosTheranos investigation[edit]
In 2015, a report written by the Journal's
John Carreyrou alleged that
blood testing company Theranos' technology was faulty and founder
Elizabeth HolmesElizabeth Holmes was misleading investors.[85][86][87] According to
Vanity Fair, "a damning report published in The
Wall StreetWall Street Journal
had alleged that the company was, in effect, a sham—that its vaunted
core technology was actually faulty and that
TheranosTheranos administered
almost all of its blood tests using competitors' equipment."[86] The
Journal has subsequently published several reports questioning
Theranos' and Holmes' credibility.[88][89]
See also[edit]